As I gaze up at the beautiful 1906 heritage property a friend of mine owns in the centre of Wellington, it’s hard to believe all the problems it’s causing him. Although it’s 100’s of kilometres away from Christchurch, the effects of the 22 February 2011 earthquake have hit this property hard.
Grant Thornton Australia has just announced it has reached agreement with BDO’s practices in Melbourne and Sydney on the terms of their proposed merger.
Small to Medium Enterprises (SME) make up a significant portion of the local New Zealand economy. Collectively we are a nation of small business operators. Research from the SME Research Centre, at Massey University, suggest that there are around 350,000 SMEs operating in New Zealand that account for up to 99 % of all businesses and are responsible for about 60 % of the total employment and up to 50% of the GDP.
No one, except Bill English, has a crystal ball to predict what tax measures might be introduced in the Budget on 24 May 2012.
The “zero budget” signalled recently by the Minister of Finance, Bill English, suggests that in some Government departments some hard-hitting will need to take place. Programmes and initiatives in health, education and social welfare that might have missed the cut last year are in the frame for further scrutiny and analysis.
With only six weeks till the 2012 Budget announcement, anticipation is high. What will the major issues addressed this year be? We don’t know a lot yet – except that the Government’s overriding goal is to return to surplus by 2014-15.
We are supporting an online initiative, launched this month, appointbetterboards.co.nz, which aims to makes it easier for New Zealand’s privately held businesses (PHBs) and Not for Profit organisations (NFPs) to connect with advisers and build stronger advisory boards and boards of directors.
While recent research both in New Zealand and globally points to rising business optimism, Grant Thornton New Zealand partner, Greg Thompson, looks at the strength of this confidence and wonders if in fact it is not just another “false dawn.”
The statutory managers of Aorangi Securities have filed legal proceedings to determine the ownership of $60 million of investments they contend belong to the investors in Aorangi Securities.
More to come - Most Hubbard Management Fund (HMF) investors received their first interim pay-out from the statutory managers, Grant Thornton New Zealand, last Friday.